Strategies for Business Project: Waitrose's Pandemic Challenges

Verified

Added on  2023/06/11

|11
|2431
|249
Report
AI Summary
This report examines Waitrose Limited, a British supermarket chain, focusing on its organizational structure, mission statement, company culture, and the challenges it faced during the COVID-19 pandemic. The report details the strategies Waitrose implemented to address decreased performance, hiring difficulties, and communication issues caused by the pandemic, such as setting clear targets, utilizing messaging platforms, and adapting hiring processes. Furthermore, it explores alternative strategies for future success, including reduced pricing, innovation and differentiation, enhanced customer-centric services, and expansion to new locations. The report concludes with recommendations for Waitrose to maintain flexibility, foster effective teamwork, motivate employees, maximize resources, and leverage competitive pricing strategies to ensure continued growth and overcome future challenges. Desklib provides similar solved assignments and past papers for students.
tabler-icon-diamond-filled.svg

Contribute Materials

Your contribution can guide someone’s learning journey. Share your documents today.
Document Page
Business Project
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Chosen organisation’s structure, mission statement, organisational strategy, and company
culture..........................................................................................................................................3
The challenges your organisation faced and the strategies they used to react to the pandemic:-
.....................................................................................................................................................4
New or alternative strategies and ideas that could be implemented by your organisation for
future success..............................................................................................................................6
CONCLUSION ...............................................................................................................................7
Recommendation: -..........................................................................................................................7
REFERENCES................................................................................................................................9
Document Page
INTRODUCTION
A business organisations may be defined as an entity or enterprises in which employees
are engaged to carry out the industrial or commercial activities in order to earn more and more
profit. There are different types of business and this can be done to generate profit . The
following report is based on Waitrose Limited, which is a well-known British supermarket of
UK. The respective company was founded in 1904 by Wallace Waite, Arthur Rose and David
Taylor and the headquarter of the company is situated in Bracknell, Berkshire, and Victoria,
London, United Kingdom. The organisation deals in groceries items but after the period of the
COVID 19 the sales of the company has been affected in a very negative manner (What is Talent
Management and Why is It Important? 2020). The following report is going to cover the
organisation’s structure, mission statement, organisational strategy, and company culture of the
chosen company and the challenges which are faced by the waitrose during the pandemic. This
report also covers the strategies which are used by the management of the company to overcome
from challenges. This report focus on the additional strategies which are used by the organisation
for the future success.
TASK
Chosen organisation’s structure, mission statement, organisational strategy, and company culture
An organizational structure is a method which outlines the activities are instructed to accomplish
the purpose of the organization. These action can consider rules, roles and responsibilities. With
the help of effective organisational structure company can easily divide the task. In context to the
Waitrose limited, hierarchical organisational structure is follows by the management of the
company. In this structure, positions of the employees and their obligations are divided into
many parts in order to ensure that all the work will be done in proper manner where work flows
from top to bottom level of an organisation and distributed among the employees (Talent
Management and Why is It Important? 2020). The individual who in the top level of the
management possess the maximum responsibility as the authority.
Mission statement: The mission statement states the happiness of all members through
rewarding and satisfying employment in a successful company. Since partnerships are trusted for
their members, they share ownership and responsibility for their compensation-profit,
Knowledge and power. It is framed in the partnership which is owned in trust by the members of
Document Page
the company because member of this company share responsibilities of the ownership and
rewards also in the form of profits, knowledge and skills and power. Brand consider in assuring
the happiness of all the members of the organisation through profitable employment. Business
provides employees part-ownership and profits share that raise work efficiency.
Organisation strategies: - Organizational strategy is the amount of the activity a company is
trying to achieve in its long-term goals. These actions form the company's strategic plan.
Strategic planning lasts for at least a year and requires participation at all levels of the company
(Pehlivan and et. al., 2018). Organisation main motive is to focus on the promotions, delivers or
share values to all the team members of its loyalty scheme, rather than select another option
which is minimising the price of the product. Brand always response to the alteration of impact
on food retailing, Waitrose had so far been comparatively resilient to the rise of discount stores
such as Aldi and Lidl. Brand have to show the competitive nature regarding its price and will
keep it moving to price match process with the other competitive brands and also compare its
cost with another relative brands.
Company culture: - It is an essential element for all the organisation to keep balance in the
organisation culture in order to achieve the goal of the organisation and better growth
(Maldonado, Vera and Ramos, 2018). Waitrose is a UK supermarket chain that forms the food
retail sector of the UK's largest employee-owned retailer. Waitrose is part of the John Lewis
Partnership, a medium-sized UK-based retailer. A partnership called by a employee has many
major benefits, including, Annual bonuses, high salary rates with performance-related salaries,
good opportunities for further growth and personal development.
The challenges your organisation faced and the strategies they used to react to the
pandemic:-
Problem 1: -
Decreased performance level:- In competitive business organization environment,
organisation always try to motivate them to get out their performance to give their best and
achieve the organisation goal. After the arisen of COVID 19, employees have to work form their
home due to which they don't get the actual environment of working which result in decreasing
the performance level of the employees. The most common problem for employees are to go
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
through time period where they found less productive in nature and less motivated but there are
different ways to help them and motivate them again.
Solution:- organisation can handle such management problem by reducing the productive
on regular monitoring of employee action. Organisation have to set clear target, implement on
their work procedures, allot them specific task according to team department and also deliver
feedbacks if they fall shortened of performance. Along with this management also have to
communicate the goals of the company by using proper medium so that employees feel more
engaged and contributed the goals and success of the company. This can assist them to overcome
form this pandemic. (Onufrey, and Bergek, 2021).
Problem 2: -
Hiring skilled employees:- Waitrose has to make the right hiring decision at right time
which is essential for the long term process of the companion. Separate from the skills and
experience of employees mangers look for the employee who fit correctly according to the
profile mentioned in company, team also benefits from the new hired employees(Li and et. al.,
2021). Wrong hiring process can leave the negative impact behind which may effect on the
overall performance and outcome. But during the COVID 19 pandemic the firm is not be able to
hire the new employees because of spreading of disease.
Solution:- post a job advertisement with a brief explanation of job profile and required
knowledge and skills and hire the qualified employees, interview them with right question which
can determine their skills and knowledge. It is a good idea to desire professional assist from
recruitment authority. If the talented employees hire within the company then they effectively
understand the task and carry out them in a well productive manner, which result in that the set
goals can be attain effectively during the pandemic situation . (Barnes and Sax, 2020).
Problem 3: -
Poor communication:- In every organisation each and every team member has a
different personality so there can be miscommunication between the members from time to time.
Communication can affect working relationships and productivity. Due to this pandemic
situation employees are not be able to came their office due to which a communication gap has
been arises between them. This result in the poor performance of the employees as well as the
organisation.
Document Page
Solution:- organisation should work on verbal , written and listening skills make is easier
for the candidates to formulate with their issues. Waitrose can help employees with a regular
meetings and also set clear work modular and project targets. To overcome form the situation of
COVID organisation can also utilize a messaging platform for punctual and effective team
communication.
New or alternative strategies and ideas that could be implemented by your organisation for
future success
Strategies which are set to develops the business and shows the right path toward success,
for which human and material resources is must needed and applied in order to achieve the
selected goals, company only develops alternative plans it is struggling and looking toward the
profits save itself from the dissolution.
Reduced prices :this strategy can be used by any firm if they are able to give their
services at a very lower prices which assist the firm in gaining the competitive advantage
over their rivals (Liu and et. al., 2021). This can be done by purchasing the raw material
at a very low cost. In relation tom the Waitrose, this strategy can be adopt by which they
can easily provide the goods to their customers a very low price along with this they also
can reduce their profit margin to increase the sales.
Innovation and Differentiation: -This strategy comprises of modification in the project
in the best manner in comparison to their competitor. In relation to the Waitrose, the
management of the company have to paid focus on the factors such as good research,
high quality in its products and services and an efficiency in its sales and marketing in
order to established the effective differentiate strategy(Dziallas and Blind, 2019). Along
with this they can also paid focus on the interest of their clients. This assist them in
increase their profitably, customer base and goodwill which leads to the success of the
firm.
Enhanced customer centric services: -This strategy focus on the need and
requirements of the consumer in the particular market in relation to the Waitrose, this
strategy is totally for the company as the company deals in the different types of product
in the different parts of the world.
Document Page
Expansion to new locations: -In relation to the Waitrose, the company have the option
to market their goods and services in the specific rural areas which assist the respective
firm in getting positive growth in the niche market and also assist in expanding the brand.
By adopting this strategy the management of the company can expand their business all
across the globe and increase their customer base and profit margin.
CONCLUSION
This following report has been concluded that a business organisations may be defined as an
entity or enterprises in which employees are engaged tom carry out the industrial or commercial
activities ion order to earn more and more profit. Their are different types of business and this
can be done for profit and non profit purpose. This following report also explained about
organisation structure how it work and management system, this report briefly described about
the organisation mission and the strategies which is used as an alternative plan in order to
achieve the new set target and goal in effective manner.
Recommendation: -
It has been recommended to the company that they have to make the plan like be Flexible
in their planning according to the necessities in order to continue the future success.
Along with this, management also have to develop an effective functional team by
choosing the talented people and maintain good working relationship good working
relationship.
Management also have to motivate the their employees on regular basis which not only
improves the satisfaction level of the employees but also enhance the engagement level.
By this firm can continue their future success. This assist the firm to overcome form the
challenge which are faced by them during the COIVD 19.
Along with this firm has to maximise their resources which assist them in dealing with
the shortage and they can also adopt the effective communication of channel like Video
conferencing, Phone calls to over come form the problem of poor communication.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
By adopting the reduce pricing strategy the firm can enjoy the competitive advantage
over their rivals which not only assist them increasing their customer base but also help
them in increasing their profit.
Document Page
REFERENCES
Books and Journals
Barnes, M. and Sax, P.E., 2020. Challenges of “return to work” in an ongoing pandemic. New
England Journal of Medicine, 383(8), pp.779-786.
Breuer, H. and Lüdeke-Freund, F., 2018. Values-based business model innovation: A toolkit.
In Sustainable business models (pp. 395-416). Springer, Cham.
Dziallas, M. and Blind, K., 2019. Innovation indicators throughout the innovation process: An
extensive literature analysis. Technovation, 80, pp.3-29.
Li, J.Y and et. al., 2021. Employee coping with organizational change in the face of a pandemic:
The role of transparent internal communication. Public Relations Review, 47(1),
p.101984.
Maldonado, T., Vera, D. and Ramos, N., 2018. How humble is your company culture? And, why
does it matter?. Business Horizons, 61(5), pp.745-753.
Onufrey, K. and Bergek, A., 2021. Transformation in a mature industry: The role of business and
innovation strategies. Technovation, 105, p.102190.
Pehlivan, N.Y and et. al., 2018. A comparative study of integrated FMCDM methods for
evaluation of organizational strategy development. Journal of Business Economics and
Management, 19(2), pp.360-381.
What is Talent Management and Why is It Important? 2020. [Online] Available through:
<https://www.waitrose.com/>
Talent Management and Why is It Important? 2020. [Online] Available through:
<https://www.shrm.org/resourcesandtools/toolsandsamples/toolkits/pages/
understandingorganizationalstructures.aspx>
Document Page
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
chevron_up_icon
1 out of 11
circle_padding
hide_on_mobile
zoom_out_icon
logo.png

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]